NORTH CHICAGO, Ill. — Abbott Laboratories said Thursday it is buyinga potential chronic pain drug from PanGenetics BV for as much as $190million.Abbott said the drug is in early-stage clinical testingas a treatment for pain cause by arthritis. If that trial issuccessful, Abbott may test it against chronic lower back pain, cancerpain, and diabetic nerve pain. It said the drug blocks a chemicalcalled nerve growth factor, or NGF, which is released at sites wheretissues are damaged or inflamed.PanGenetics, based in theNetherlands, will receive $170 million upfront from Abbott, and $20million in milestone payments if the drug advances through development.Abbott said the deal will close before the end of 2009, and while itwill take one-time charges related to the deal, the company said itdoes not need to change its profit guidance for the year.In morning trading, Abbott stock rose a penny to $53.27.

"Personally, I feel good that Merck will be able to keep Remicade,"Hassan said on Thursday at the Reuters Health Summit in New York, justfour weeks after completing the $41 billion sale of his company toMerck.

Schering-Plough garnered $2 billion a year in overseas sales ofRemicade under a long-term marketing pact with J&J. The dealrequired Schering-Plough to hand back the sales rights if it underwenta change of control.

But that requirement became clouded when the Schering-Plough/Merckdeal was structured as a reverse merger -- which technically meansSchering-Plough bought the larger company even though the combinedcompany retained the Merck name and Merck's CEO.

J&J objected to the reverse-merger logic. An arbitrator is expected to decide the high-stakes matter.